HBARUSD: Massive +40% surge but there is more coming.

Apr 23

HBARUSD turned bullish today on the 1D and 1W timeframes (RSI = 62.233, MACD = 0.011, ADX = 37.310), at the time of this writing at +37% but this might not be the end of this bullish sequence. The 1W RSI is only testing the MA line and the price itself is testing the 1W MA200. Having been rejected there in March and failed to close a weekly candle over it, if it does this time, we expect the Channel Up to break upwards and target the 0.618 and 0.786 Fibonacci level successively.

The fact that this rebound is taking place after the 1W MA50 was tested and held, makes an even stronger bullish case for breaking higher. Basically, the price has been between the 1W MA200 and 1W MA50, essentially the 0.5 - 0.236 Fib Zone. We turn bullish long term on Hedera, aiming at the 0.786 Fib (TP = 0.31000).

See how our prior idea has worked out:

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